Skip to content
Powergrid Infrastructure Investment Trust logo

Powergrid Infrastructure Investment Trust

PGINVIT NSE
₹104.92 No trade today
P/E
10.54
View as Markdown
MCP
Close 4 Nov 2026 ₹104.92 +7.83 +8.06% 1Y
Start ₹97.09

Key Fundamentals

MicrocapPowerUtilities

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
11.60%
Debt to Equity
0.14
EPS (TTM)
₹9.95
Book Value
₹90.32
Market Cap
—
P/E (TTM)
10.54
P/B
1.16
ROE
11.90%
Dividend Yield
2.84%
EBITDA
₹1,331 Cr
52W High
₹105.98
52W Low
₹86.30
Volume
0

Peer Comparison

Utilities › Power › Power - Transmission

Powergrid Infrastructure Investment Trust peer comparison
Power Grid
₹262.0515.33₹2,39,072 Cr2.281.16%15.30%9.10%₹47,374 Cr₹15,895 Cr
IndiGrid Infrastructure Trust
₹169.6927.82₹16,289 Cr1.562.42%7.23%7.99%₹5,015 Cr₹570 Cr
Powergrid Infrastructure Investment Trust (this company)
₹104.9210.54₹9,619 Cr1.162.84%11.90%11.60%₹1,256 Cr₹906 Cr
TRIVENI POWER TRANS
₹470.1059.51₹4,912 Cr242.320.00%−8.85%−9.01%₹360 Cr₹82 Cr
Anzen India Energy Yield Plus Trust
₹131.90113.71₹4,433 Cr1.522.33%−0.20%3.28%₹648 Cr₹46 Cr
Median 5 companies₹169.6927.82₹9,619 Cr1.562.33%7.23%7.99%₹1,256 Cr₹570 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

61 Good

Data confidence 98/100

Category scores

Quality
71
Strong
Returns, margins, earnings quality 22% weight
Valuation
83
Strong
Cheap vs sector & own history 24% weight
Growth
29
Poor
Sales & profit trajectory 9% weight
Financial Health
66
Strong
Solvency, leverage, coverage 9% weight
Momentum
80
Strong
Trend strength, vol-adjusted 12% weight
Ownership
34
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 110%

Weaknesses

2
  • Tax rate seems low
  • Company has a low return on equity of 13.2% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish1612
OscillatorsBullish162
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
66.90
Neutral
MACD (12,26,9)
0.69
Bullish
SMA (50)
102.14
Bullish
SMA (200)
95.94
Bullish

As of

Growth Rate

From the financial statements below. 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
3Y−0.73%
1Y−0.63%
TTM−0.63%

Net profit

Net profit growth by window
3YTurned to profit
1Y−22.18%
TTM−22.03%

Operating cash flow

Operating cash flow growth by window
3Y−0.14%
1Y−3.21%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
3Y+127.12 pp
1Y−30.40 pp
TTM−30.52 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2022₹1,217 Cr
Mar 2023₹1,286 Cr
Mar 2024₹1,265 Cr
Mar 2025₹1,266 Cr
Mar 2026₹1,258 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2022₹463 Cr
Mar 2023−₹446 Cr
Mar 2024₹982 Cr
Mar 2025₹1,172 Cr
Mar 2026₹912 Cr

AI Analysis — Bull vs Bear

Generated 31 Jul 2026
AI opinion · based on fundamentals
Risk medium

Powergrid Infrastructure Investment Trust is a ₹9,045 Cr market cap InvIT sponsored by Power Grid Corporation of India, holding 5 SPVs with 3,699 circuit km of transmission lines. It trades at a PE of 10.2x with a distribution yield of approximately 12% (₹12 per unit annually), while FY25 revenue was largely flat at ₹12.69 billion (+0.26% YoY) and net income rose 26.9% YoY to ₹11.76 billion.

Bull Case 7
  • High distribution yield of ~12% (₹12 per unit annually), significantly above the 3.05% dividend yield on face value, providing strong income visibility for unitholders
  • Regulated transmission assets with average remaining Transmission Service Agreement life of ~27 years, offering long-term revenue visibility
  • FY25 net income grew 26.9% YoY to ₹11.76 billion, indicating improved profitability after acquiring residual 26% stake in SPVs
  • Attractive PE multiple of 10.2x relative to utility sector peers, suggesting reasonable valuation for a regulated-return asset
  • Dividend payout ratio of 110% demonstrates management commitment to maximizing distributions to unitholders
  • Portfolio of 3,699 circuit km includes 3,174 ckm at 765 kV (high-voltage backbone), which are critical national infrastructure assets with minimal demand risk
  • Now holds 100% equity in all 5 SPVs after acquiring the residual 26% stake in FY25, eliminating minority leakage and simplifying the structure
Bear Case 7
  • Promoter holding is low at 15.0%, which limits sponsor alignment and could raise governance concerns for a trust structure
  • Revenue has been stagnant with TTM sales growth of -1% and 3-year CAGR of -1%, reflecting the fixed-tariff nature with no organic growth lever
  • 3-year unit price CAGR of -5% and 5-year CAGR of -3% indicate persistent capital erosion despite income distributions
  • TTM profit declined 23% suggesting recent quarterly earnings volatility despite the full-year FY25 improvement
  • Return on equity of 13.2% over 3 years is modest for an infrastructure trust and below the cost-of-equity expectations for many investors
  • No meaningful avenue for asset acquisition growth since the sponsor has limited ROFR pipeline disclosed, capping NAV accretion potential
  • Payout ratio exceeding 100% (at 110%) may not be sustainable long-term if depreciation and debt repayment obligations rise

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

94d ago

TL;DR: PGInvIT delivered steady Q1FY27 results with 10% profit growth and a ₹3/unit distribution, signalling healthy cash generation from its transmission assets. No material headwinds are visible; the borrowing limit enhancement proposal indicates appetite for asset expansion. The unitholding pattern remains stable with broad public participation. Overall trend is stable-to-positive, with the borrowing decision outcome a near-term catalyst for growth visibility.

Positives 2
  • Q1FY27 profit up 10% YoY Jul 28

    Consolidated net profit rose 10% YoY to ₹1,851.15 million in Q1FY27. Board approved ₹3.00 per unit distribution payable by August 7, 2026.

  • Borrowing limit hike proposed Jul 17

    Powergrid scheduled a July 22 meeting to review raising the FY2026-27 borrowing ceiling from ₹30,000 Crores to ₹35,000 Crores, a ₹5,000 Crore enhancement to fund growth.

Neutral 3
  • FY26 financials approved by unitholders Jul 28

    Unitholders approved audited financial statements and valuation report for FY26 at the fifth annual meeting held on July 28, 2026.

  • Public holds 85% of units Jul 9

    As of June 30, 2026, sponsor group holds 15% and public holds 85% of total PGInvIT units.

  • Independent Director appointed Jul 6

    Ministry of Power appointed Smt. Anita Soren as Independent Director on the Board of POWERGRID Unchahar Transmission Limited for three years.

Quarterly Results

₹ Cr
PGINVIT quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
314
318
319
314
316
320
320
311
313
317
317
311
311
Expenses
29
−133
20
−70
22
188
20
−649
21
−93
19
17
22
Operating Profit
285
451
299
385
293
132
300
960
292
409
297
294
290
OPM %
91%
142%
94%
122%
93%
41%
94%
309%
93%
129%
94%
94%
93%
Other Income
7
7
10
12
11
9
10
9
12
10
8
9
8
Interest
12
12
12
12
12
12
12
21
20
18
18
18
18
Depreciation
78
79
79
79
79
80
80
78
79
80
80
78
79
PBT
202
368
218
307
214
50
218
870
205
321
207
207
201
Tax %
6%
14%
5%
12%
6%
−60%
6%
21%
7%
13%
5%
−18%
8%
Net Profit
191
316
207
269
201
80
204
687
191
279
198
244
185
EPS (₹)
2.05
3.18
2.18
2.77
2.12
1.1
2.15
7.55
2.1
3.07
2.17
2.68
2.03

Profit & Loss

₹ Cr
PGINVIT profit and loss, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,217
1,286
1,265
1,266
1,258
1,256
Expenses
446
1,599
−161
−419
−35
−34
Operating Profit
771
−313
1,427
1,686
1,293
1,291
OPM %
63%
−24%
113%
133%
103%
103%
Other Income
26
30
31
39
39
35
Interest
0
41
47
56
74
72
Depreciation
270
315
315
317
317
317
PBT
528
−640
1,095
1,352
940
937
Tax %
12%
−30%
10%
13%
3%
—
Net Profit
463
−446
982
1,172
912
906
EPS (₹)
5.57
−2.14
10.18
12.92
10.02
9.95
Div. Payout %
189%
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
118%
93%
120%
—

Balance Sheet

₹ Cr
PGINVIT balance sheet, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
9,100
9,100
9,100
9,100
9,100
Reserves
−106
−1,394
−1,559
−1,379
−1,559
Borrowings
575
572
569
1,072
1,064
Other Liabilities
2,286
1,765
1,872
1,394
1,403
Total Liabilities
11,854
10,043
9,983
10,187
10,008
Fixed Assets
10,892
9,074
9,042
9,235
9,047
CWIP
4
15
7
10
16
Investments
0
0
0
0
0
Other Assets
958
955
933
942
944
Total Assets
11,854
10,043
9,983
10,187
10,008

Cash Flow

₹ Cr
PGINVIT cash flow, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
1,164
1,181
1,230
1,215
1,176
Investing
−629
−154
10
−531
13
Financing
−224
−1,195
−1,182
−674
−1,174
Net Cash Flow
311
−168
58
9
15
Free Cash Flow
855
1,163
1,206
1,211
1,162
CFO/EBITDA
152
−389
86
72
93

Ratios

PGINVIT financial ratios, annual
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
100
93
78
59
54
Cash Conversion Cycle
100
93
78
59
54
Working Capital Days
107
99
85
67
61
ROCE %
—
−6%
13%
16%
12%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Powergrid Infrastructure Investment Trust insights

56 extracted metrics across FY22–FY27.

Shareholding Pattern

As of Sep 2026

  • Public 50.21%
  • Others 25.87%
  • Promoters 15.00%
  • DIIs 8.92%

No promoter shares pledged as of 14 Oct 2026

Change since Jun 2026

Documents

Frequently Asked Questions about Powergrid Infrastructure Investment Trust

What does Powergrid Infrastructure Investment Trust do?
Powergrid InvIT (Infrastructure Investment Trust) owns, constructs, operates, maintains, and invests in power transmission assets in India. Powergrid InvIT registered with SEBI as an InvIT on January 7, 2021.
Where is Powergrid Infrastructure Investment Trust (PGINVIT) listed?
Powergrid Infrastructure Investment Trust trades as PGINVIT on the NSE and under code 543290 on the BSE.
Which sector does Powergrid Infrastructure Investment Trust belong to?
Powergrid Infrastructure Investment Trust is classified under the Utilities sector, in the Power industry.
What is the PE ratio of Powergrid Infrastructure Investment Trust?
Powergrid Infrastructure Investment Trust trades at a PE ratio of 10.54 as of 4 Nov 2026, on earnings per share of ₹9.95, against a book value of ₹90.32 per share.
What is the 52-week high and low of Powergrid Infrastructure Investment Trust?
Over the last 52 weeks Powergrid Infrastructure Investment Trust has traded between ₹86.3 and ₹105.98 as of 4 Nov 2026.
Does Powergrid Infrastructure Investment Trust pay dividends?
Powergrid Infrastructure Investment Trust has a dividend yield of 2.84%.
What is the Return on Equity (ROE) of Powergrid Infrastructure Investment Trust?
Powergrid Infrastructure Investment Trust reported a return on equity of 11.90%. Its debt-to-equity ratio is 0.14.

Company Information

Powergrid InvIT (Infrastructure Investment Trust) owns, constructs, operates, maintains, and invests in power transmission assets in India. Powergrid InvIT registered with SEBI as an InvIT on January 7, 2021.

Website pginvit.in
Listed 14 May 2021
Face Value ₹100

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/PGINVIT.md for Powergrid Infrastructure Investment Trust: dated key facts, then this page's sections in order: latest price, key fundamentals, peer comparison, the Tapetide Score, technical indicators, analyst ratings, growth rates, analyst forecasts, the AI analysis and news digest (labelled as AI-generated), financial statements, shareholding pattern, documents and the FAQ.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our Indian stock market MCP server.

Explore More

More Power stocks → FII DII DataStock ScreenerNifty 50 HeatmapF&O Ban ListFII and DII flows, month by monthHow Tapetide Scores changed, month by monthStocks mutual funds are buying, month by month